|
|
|
|
Report No. : |
495686 |
|
Report Date : |
06.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
GUANGZHOU UNIQUE CATERING EQUIPMENT CO., LIMITED |
|
|
|
|
Registered Office : |
No. 13 Dongjing Road, Donghua Industrial Zone, Renhe Town, Baiyun
District, Guangzhou, Guangdong Province, 510470 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
16.05.2016 |
|
|
|
|
Credibility Code
: |
91440111MA59CXJ35J |
|
|
|
|
Legal Form : |
One-Person Limited Liability Company |
|
|
|
|
Line of Business : |
Registered business scope includes manufacture of metal kitchen utensils,
boilers and auxiliary equipment, oven, melting furnace and electric furnace,
special equipment for food, wine, beverage and tea production, household
refrigeration electric appliances, household kitchen electric appliances;
import and export of goods (excluding franchised and controlled goods); goods
wholesale trade (excluding those needed permit). |
|
|
|
|
No. of Employees : |
42 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
CHINA - ECONOMIC OVERVIEW
Since the late 1970s, China has moved from a closed, centrally planned system to a more market-oriented one that plays a major global role. China has implemented reforms in a gradualist fashion, resulting in efficiency gains that have contributed to a more than tenfold increase in GDP since 1978. Reforms began with the phaseout of collectivized agriculture, and expanded to include the gradual liberalization of prices, fiscal decentralization, increased autonomy for state enterprises, growth of the private sector, development of stock markets and a modern banking system, and opening to foreign trade and investment. China continues to pursue an industrial policy, state support of key sectors, and a restrictive investment regime. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2016 stood as the largest economy in the world, surpassing the US in 2014 for the first time in modern history. China became the world's largest exporter in 2010, and the largest trading nation in 2013. Still, China's per capita income is below the world average.
After keeping its currency tightly linked to the US dollar for years, China in July 2005 moved to an exchange rate system that references a basket of currencies. From mid-2005 to late 2008, the renminbi appreciated more than 20% against the US dollar, but the exchange rate remained virtually pegged to the dollar from the onset of the global financial crisis until June 2010, when Beijing announced it would allow a resumption of gradual liberalization. From 2013 until early2015, the renminbi (RMB) appreciated roughly 2% against the dollar, but the exchange rate fell 13% from mid-2015 until end-2016 amid strong capital outflows in part stemming from the August 2015 official devaluation; in 2017 the RMB resumed appreciating against the dollar – roughly 7% from end-of-2016 to end-of-2017. From 2013 to 2017, China had one of the fastest growing economies in the world, averaging slightly more than 7% real growth per year. In 2015, the People’s Bank of China announced it would continue to carefully push for full convertibility of the renminbi, after the currency was accepted as part of the IMF’s special drawing rights basket. However, since late 2015 the Chinese Government has strengthened capital controls and oversight of overseas investments to better manage the exchange rate and maintain financial stability.
The Chinese Government faces numerous economic challenges including: (a) reducing its high domestic savings rate and correspondingly low domestic household consumption; (b) managing its high corporate debt burden to maintain financial stability; (c) controlling off-balance sheet local government debt used to finance infrastructure stimulus; (d) facilitating higher-wage job opportunities for the aspiring middle class, including rural migrants and college graduates, while maintaining competitiveness; (e) dampening speculative investment in the real estate sector without sharply slowing the economy; (f) reducing industrial overcapacity; and (g) raising productivity growth rates through the more efficient allocation of capital and state-support for innovation. Economic development has progressed further in coastal provinces than in the interior, and by 2016 more than 169.3 million migrant workers and their dependents had relocated to urban areas to find work. One consequence of China’s population control policy known as the “one-child policy” - which was relaxed in 2016 to permit all families to have two children - is that China is now one of the most rapidly aging countries in the world. Deterioration in the environment - notably air pollution, soil erosion, and the steady fall of the water table, especially in the North - is another long-term problem. China continues to lose arable land because of erosion and urbanization. The Chinese Government is seeking to add energy production capacity from sources other than coal and oil, focusing on natural gas, nuclear, and clean energy development. In 2016, China ratified the Paris Agreement, a multilateral agreement to combat climate change, and committed to peak its carbon dioxide emissions between 2025 and 2030.
The government's 13th Five-Year Plan, unveiled in March 2016, emphasizes the need to increase innovation and boost domestic consumption to make the economy less dependent on government investment, exports, and heavy industry. However, China has made more progress on subsidizing innovation than rebalancing the economy. Beijing has committed to giving the market a more decisive role in allocating resources, but the Chinese Government’s policies continue to favor state-owned enterprises and emphasize stability. Chinese leaders in 2010 pledged to double China’s GDP by 2020, and the 13th Five Year Plan includes annual economic growth targets of at least 6.5% through 2020 to achieve that goal. In recent years, China has renewed its support for state-owned enterprises in sectors considered important to "economic security," explicitly looking to foster globally competitive industries. Chinese leaders also have undermined some market-oriented reforms by reaffirming the “dominant” role of the state in the economy, a stance that threatens to discourage private initiative and make the economy less efficient over time. The slight acceleration in economic growth in 2017—the first such uptick since 2010—gives Beijing more latitude to pursue its economic reforms, focusing on financial sector deleveraging and its Supply-Side Structural Reform agenda, first announced in late 2015.
|
Source : CIA |
Guangzhou Unique Catering Equipment Co.,
Limited
NO. 13 DONGJING ROAD, DONGHUA INDUSTRIAL ZONE,
RENHE TOWN,
BAIYUN DISTRICT, GUANGZHOU, GUANGDONG PROVINCE,
510470 PR CHINA
TEL: 86 (0) 15054029481
FAX: N/A
INCORPORATION DATE : may 16, 2016
Credibility Code : 91440111MA59CXJ35J
REGISTERED LEGAL FORM : One-person
Limited Liability Company
STAFF STRENGTH :
42
REGISTERED CAPITAL : CNY 2,000,000
BUSINESS LINE :
TRADING and manufacturing
TURNOVER :
CNY 22,858,000 (AS OF DEC. 31, 2016)
EQUITIES :
CNY 216,000 (AS OF DEC. 31, 2016)
PAYMENT :
SLOW BUT CORRECT
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : fairly STABLE
OPERATIONAL TREND : FAIRLY steady
GENERAL REPUTATION : AVERAGE
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
![]()
Company Status: One-person Limited Liability Company Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and
shall be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person LLC has no shareholder
meeting.
SC’s registered business scope includes manufacture of metal kitchen
utensils, boilers and auxiliary equipment, oven, melting furnace and electric furnace,
special equipment for food, wine, beverage and tea production, household
refrigeration electric appliances, household kitchen electric appliances;
import and export of goods (excluding franchised and controlled goods); goods
wholesale trade (excluding those needed permit).
SC is mainly engaged in manufacturing and selling catering equipment.
Song Mingqian is
legal representative, executive director and general manager of SC at present.
SC is known to
have approx. 42 employees at
present.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in the industrial zone of Guangzhou. Detailed
premise information is not available at present.
![]()
http://www.unique-cateringequipment.com/ The design is
professional and the content is well organized. At present it is in English,
French and Russian versions, etc.
Email: jessie@cn-kitchen.com
![]()
No significant changes were found during our
checks with the local Administration for Industry and Commerce.
Import/ Export License Number: 4401MA59CXJ35
![]()
For the past two
years there is no record of litigation.
![]()
MAIN SHAREHOLDERS:
Song Mingqian 100
![]()
l Legal Representative,
Executive Director and General Manager:
Song Mingqian is currently responsible for the overall management of SC.
Working Experience(s):
At present Working
in SC as legal representative, executive director and general manager.
l
Supervisor:
Cai Weijuan
![]()
SC is mainly engaged in manufacturing and selling catering equipment.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include T/T, L/C and Credit of 30-60 days.
Note: SC declined
to release its major suppliers and clients.
Trademark &
Patents
|
Registration No. |
22063270 |
22063117 |
22062523 |
|
Registration Date |
2018-01-14 |
2018-01-14 |
2018-01-14 |
|
Trademark Design |
|
|
|
Industry code:
3594
Industry name: Commercial,
catering and services equipment manufacturing
The gross domestic product of China in 2016
which is 74412.72 billion that is increased 6.7% than previous year.


In 2015, the main business income of China's
special equipment manufacturing industry is 3559.98 billion yuan, increased by
2.9% year on year. From the above chart we can see from 2012 to 2015, the main
business income of national special equipment manufacturing industry has
maintained a rising trend, but the main business revenue growth rate of special
equipment manufacturing industry has been in a turbulent
downturn, but still maintain positive growth.

In 2015, the total profit of special
equipment manufacturing industry was 209.69 billion yuan, down by 3.4% year
on year. From the above chart we can see from 2011 to 2013, the
total profit growth rate has maintained positive growth. From 2013 to 2015, the
profit growth rate has been declining, the profit growth into negative growth
in 2015.
![]()
SC is not known to have the subsidiary at present.
![]()
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and ability
to pay. It is based on the 3 weighed
factors: Trade payment experience
(through current enquiry with SC's suppliers), our delinquent payment records
and our debt collection record concerning SC.
Trade payment experience: SC did not
provide any name of trade/service suppliers and we have no other sources to
conduct the enquiry at present.
Delinquent payment record: None in our
database.
Debt collection record: No overdue amount owed by SC was placed to us for
collection within the last 6 years.
![]()
Bank of China
Guangzhou New Baiyun Airport Sub-branch
A/C #:
732867323640
Relationship:
Normal
![]()
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2016 |
|
Total
liabilities |
/ |
|
Equities |
216 |
|
|
------------------ |
|
Total assets |
/ |
|
|
=========== |
|
Turnover |
22,858 |
|
Profits |
216 |
Note: We did not find SC’s detailed financial reports.
Important
Ratios
=============
|
|
As
of Dec. 31, 2016 |
|
*Net profit
margin (%) |
0.94 |
![]()
PROFITABILITY:
AVERAGE
l The turnover of SC appears average in its line.
l SC’s net profit
margin is average.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
![]()
SC is considered small-sized in its line with fairly stable financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.05 |
|
|
1 |
INR 89.70 |
|
Euro |
1 |
INR 80.03 |
|
CNY |
1 |
INR 10.25 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
SYL |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on secured
terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.